SAN FRANCISCO (Reuters) – U.S. electrical vehicle startup Rivian Automotive Inc stated on Tuesday it’s elevating the beginning worth of its R1T electrical pickup vehicles by about 17% and its R1S sport utility automobiles by about 20%, citing inflationary pressure and better part prices.
The worth will increase would have an effect on lots of the clients who’ve already positioned pre-orders for the automobiles. Some clients expressed frustration and threatened to cancel orders on social media.
“Like most producers, Rivian is being confronted with inflationary pressure, rising part prices, and unprecedented provide chain shortages and delays for components (together with semiconductor chips),” Jiten Behl, Rivian’s chief progress officer, stated in a press release.
Rivian, during which Amazon.com Inc holds a 20% stake, stated the price of sure choices, upgrades, and equipment has additionally elevated.
The California-based startup produced 1,015 automobiles final 12 months, developing wanting its goal of 1,200 because of supply-chain constraints.
(Reporting by Hyunjoo Jin; Editing by Leslie Adler)
